Bitcoin had a respectable year in 2021, returning 60%. However, on a risk-adjusted basis, it was one of the worst performing major assetspic.twitter.com/d4dSdrGXU5
I think the bar is a little high. For a single asset the acceptable sharpe ratio is more like 0.2-0.3 so a mere 20-30% annual appreciation would mean it’s worth holding.
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Totally agree. My point at the time was more directed towards the excited crypto crowd naively comparing btc returns to other asset classes.
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